The new factory for the production of sheet metal equipment for the new Ford Mustang will cost $3,321,000, according to an estimate prepared by a company that manufactures and installs the metal parts.
The estimated price tag is for sheet metal assembly and installation.
“It’s the most expensive assembly we’ve ever done in the world,” Ford said in a statement Thursday.
“We’ve been making the parts in the United States for more than 100 years.
It’s a tremendous amount of work and labor.”
Ford will start work on the $8.6 billion plant in late 2018.
“The new factory is designed to produce sheet metal parts for a wide variety of vehicles from the Mustang to the F-150, including a wide range of passenger vehicles, SUVs and trucks,” Ford wrote in the statement.
“Our new assembly line will be one of the largest in the automotive industry, and it will be built with the same dedication to quality and quality control that we have at every Ford assembly line.”
The new plant is located in the San Fernando Valley.
The company is also working on a new facility in China, which is expected to be finished in 2020.
Ford is building the new factory to meet demand for the company’s high-performance, luxury, and performance vehicles, which are the highest-selling model in the U.S. Ford’s global sales have grown rapidly, thanks in part to the Mustang.
Ford now sells nearly 10 million vehicles a year, up from about 5 million in 2016.